Hearing Aid Tax Credit Legislation

Hearing Aid Tax Credit Legislation

Congressman Tom Latham (R-IA) and Congresswoman Carolyn McCarthy (D-NY) introduced H.R. 1479, the Hearing Aid Assistance Tax Credit Act, along with 34 original co-sponsors. This legislation provides a tax credit of up to $500 toward the purchase of a hearing aid, available once every five years. The tax credit would be available to those individuals aged 55 years and older, dependents of taxpayers, or taxpayers whose adjusted gross income is below $200,000. The Senate companion to this bill, S. 905, introduced by Senators Tom Harkin (D-IA) and Olympia Snowe (R-ME) with 8 original cosponsors, differs in that it extends the tax credit to all individuals with no restrictions based on age or income.